Improving the Quality of the Comply or Explain Approach and Introducing Self-Monitoring Through Online Feedbacks

2017 ◽  
Vol 14 (3) ◽  
Author(s):  
Renato Mangano
Keyword(s):  
European Union ◽  
Corporate Governance ◽  
National Level ◽  
The European Union ◽  
Light Touch ◽  
Self Monitoring ◽  
Corporate Governance Code ◽  
The Core ◽  
Comply Or Explain

Codes of corporate governance and comply or explain approach are always at the core of the European Union agenda. This paper will deal both with the evolution of codes of corporate governance across Europe, and with the 2014 Recommendation. The idea put forwards is that regulators, at both EU and national level, should mainly improve the environment where the comply or explain approach is applied and introduce a system of self-monitoring through online feedbacks only. Arguably, this proposal might offer Member States a light-touch way to comply with Art. 11 of the 2014 Recommendation laying down that “[i]n order to motivate companies to comply with the relevant corporate governance code or to better explain departures from it, efficient monitoring needs to be carried out at national level.”

Listed Companies

2020 ◽  
pp. 43-51
Author(s):  
Theodor Baums
Keyword(s):  
European Union ◽  
Corporate Governance ◽  
Self Regulation ◽  
Listed Companies ◽  
Independent Directors ◽  
Board Members ◽  
The European Union ◽  
Controlling Shareholder ◽  
Corporate Governance Code ◽  
Corporate Governance Codes

Although corporate governance codes have spread across the European Union and beyond, and are regularly revised and adapted to changing national and international expectations of investors and other stakeholders, some important questions have not yet been unanimously answered. Two of these ongoing debates are addressed in this chapter. First, where should the line be drawn between statutory provisions and corporate governance codes as an instrument of self-regulation? Second, what is the rationale behind the idea of independent directors? In particular, how should independence be understood in relation to board members: independent of the incumbent management and company or independent of a controlling shareholder? The chapter discusses both questions using the example of the German Corporate Governance Code.

scholarly journals Impact of Corporate Governance Framework on Economic Performance in European Union

2018 ◽  
Vol 11 (40) ◽  
pp. 236-246
Author(s):  
Dušan Steinhauser ◽  
Miroslava Čukanová
Keyword(s):  
European Union ◽  
Corporate Governance ◽  
Gross Domestic Product ◽  
Economic Performance ◽  
Conflict Of Interest ◽  
Institutional Environment ◽  
Judicial Independence ◽  
The European Union ◽  
Per Capita

Abstract In the current post-crisis period, the implementation of Corporate Governance principles has proven to be important. The Organization of Economic Cooperation and Development considers failure of Corporate Governance as one of the causes of the latest financial and economic crisis. We assume that the higher quality of institutional environment point to higher performance of the economy. The aim of the paper is to quantify the implementation of Corporate Governance in the European Union through selected qualitative indicators and his impact on economies. We have verified that countries with better values of judicial independence, protection of property rights, corruption, minority investor protection, extent of conflict of interest and resolving insolvency have a higher value of gross domestic product per capita. The index of enforcing contracts was statistically insignificant.

scholarly journals Preliminary analysis of odor legal solutions and study on their implementation possibilities in Poland

2018 ◽  
Vol 28 ◽  
pp. 01034
Author(s):  
Izabela Sówka ◽  
Leszek Karski
Keyword(s):  
European Union ◽  
Economic Activity ◽  
Preliminary Analysis ◽  
National Level ◽  
The European Union ◽  
National System ◽  
Related Quality ◽  
Odor Emission

The problem of odor nuisance requires undertaking legal means that aim towards implementation of regulations in order to improve the odor-related quality of air in selected areas in Poland. So far the works carried out in the country were concluded by drawing up ‘The guidelines for the bill on counteracting the odor nuisance’. However, as a result of completed social consultations in Poland, the Ministry of Environment, in 2015, resigned from implementing of so called anti-odor act. Currently, the legislature is taking steps which aim at undertaking specific actions in order to introduce solutions, which would directly regulate the issues of odors and the odor nuisance, to the national system. In the countries of the European Union, the issues related to odors are solved in diversified ways and the system still lacks of a uniform proposition, among others related to odor standards. In connection with the above, actions that are taken on a national level should fundamentally aim at developing national odor standards which would take into account the type / the kind of economic activity being a source of odor emission (e.g. clearly separated for existing objects and planned investments), at establishing a procedure and also legal and operational requirements related to determination and the types of zones with defined values of acceptable concentration and determination of reference methodology in monitoring, and modeling the dispersion of odors e.g. including strictly defined frequency of necessary tests. In addition, the process should be accompanied by a creation of financial mechanisms and streams in range of investments related to the development of technology and methods used to limit emission of odors.

Clearing the fog for an overall view on state-owned enterprises: quality of aggregate holdings reporting by public administrations in 12 countries

2017 ◽  
Vol 85 (1) ◽  
pp. 116-136 ◽  
Author(s):  
Ulf Papenfuß ◽  
Lars Steinhauer ◽  
Benjamin Friedländer
Keyword(s):  
European Union ◽  
Service Provision ◽  
National Level ◽  
Development Aid ◽  
Theory And Practice ◽  
Future Research ◽  
The European Union ◽  
Quality Model ◽  
Consultation Process

In the context of current debates on sustainable public service provision, austerity, debts and cutback management, the governance and management of and in state-owned enterprises is a crucial issue. An aggregate holdings report is an important tool for public administrations to provide accountability and the necessary overall view on the institutional service provision structures of core administration and state-owned enterprises. On the basis of a developed quality index with 175 test criteria, this study analyses the diffusion of aggregate holdings reports in 17 countries and the quality of 12 existing reports at the national level. First, the study provides a conceptual contribution for assessing aggregate holdings reports and future research on the issues of the model categories. Second, for an empirical contribution, the analysis enhances our state of knowledge on aggregate holdings report diffusion and quality patterns. Findings show that, in many cases, public administrations do not meet the requirements from theory and practice. Newer Organisation for Economic Co-operation and Development and European Union members reach comparably higher quality scores. This comparative study offers new insights that can enhance the sustainable public management and control of state-owned enterprises. Points for practitioners The Organisation for Economic Co-operation and Development’s OECD Guidelines on Corporate Governance of State-Owned Enterprises, which were published after an intensive consultation process in 2005 and revised in 2015, demand public authorities to develop aggregate holdings reports that cover all SOEs, and make them a key disclosure tool directed to the general public and politicians. This study develops a quality model for assessing the quality of aggregate holdings reports. The model can also answer questions that are often raised in reform debates, such as ‘Which is the best aggregate holdings report?’ or ‘Which aggregate holdings report can I use as a reference to further develop my own aggregate holdings report?’. The model is a conceptual contribution and the empirical results can be used for international bench-learning. They are also useful for international organisations such as the European Union, Organisation for Economic Co-operation and Development, World Bank, International Monetary Fund, Chartered Institute of Public Finance & Accounting and development aid/cooperation agencies in each country. The results of this study indicate that policymakers at the national and international levels should give more emphasis to the diffusion and quality of aggregate holdings reports and should reflect on establishing and revising legal obligations for aggregate holdings reports because the recommendations of the Organisation for Economic Co-operation and Development guidelines, as a soft-law approach, are often not put into practice.

scholarly journals Rule of law in the 21st century

2019 ◽  
Vol 3 (1) ◽  
pp. 163-169
Author(s):  
András Varga
Keyword(s):  
European Union ◽  
Rule Of Law ◽  
21St Century ◽  
National Level ◽  
The European Union ◽  
The Core ◽  
Essential Value ◽  
Venice Commission

Rule of law is one of the core principles of constitutions and also the essential value of the European Union. Still, rule of law does not have a unanimous understanding either in the academic sphere or in the jurisprudence of the countries. The paper explains some theories on rule of law, then it considers how the doctrine prevails in the praxis of the Venice Commission and in the wording of the Treaty on the European Union. The paper concludes that interpretation of international fora involves the meaning of rule of law in a national level, even though the base of interpretation is unclear.

States and communities competing for global power

2016 ◽  
Vol 42 (4-5) ◽  
pp. 386-396 ◽  
Author(s):  
Riva Kastoryano
Keyword(s):  
European Union ◽  
Collective Identity ◽  
National Level ◽  
International Level ◽  
The European Union ◽  
The Core ◽  
Transnational Communities ◽  
Global Power ◽  
Supranational Level ◽  
National Borders

The question of immigration and its corollary community and minority formation has always been analysed in relation to states. However, the increasing importance of solidarity beyond national borders on the grounds of one or several identities – national, religious, ethnic, regional – removes the claim of recognition of a collective identity from a national level to an international level and, in the European Union, to a supranational level. Such an evolution places territory at the core of the analysis of citizenship and nationhood, for communities as well as states. This article will attempt to show that in this new configuration, negotiations between states and immigrants are brought beyond borders in order for states to maintain the ‘power’ of incorporation and citizenship while expanding their influence beyond their territories and to compete with transnational communities in their engagement in the process of globalization.

European experience in transition to circular economy

2020 ◽  
Vol 19 (4) ◽  
pp. 598-617 ◽  
Author(s):  
S.V. Ratner
Keyword(s):  
European Union ◽  
Circular Economy ◽  
Raw Materials ◽  
Action Plan ◽  
National Level ◽  
The European Union ◽  
Scientific Methods ◽  
European Experience ◽  
General Scientific ◽  
The Eu

Subject. The article considers the concept of circular economy, which has originated relatively recently in the academic literature, and is now increasingly recognized in many countries at the national level. In the European Union, the transition to circular economy is viewed as an opportunity to improve competitiveness of the European Union, protect businesses from resource shortages and fluctuating prices for raw materials and supplies, and a way to increase employment and innovation. Objectives. The aim of the study is to analyze the incentives developed by the European Commission for moving to circular economy, and to assess their effectiveness on the basis of statistical analysis. Methods. I employ general scientific methods of research. Results. The analysis of the EU Action Plan for the Circular Economy enabled to conclude that the results of the recent research in circular economy barriers, eco-innovation, technology and infrastructure were successfully integrated into the framework of this document. Understanding the root causes holding back the circular economy development and the balanced combination of economic and administrative incentives strengthened the Action Plan, and it contributed to the circular economy development in the EU. Conclusions. The measures to stimulate the development of the circular economy proposed in the European Action Plan can be viewed as a prototype for designing similar strategies in other countries, including Russia. Meanwhile, a more detailed analysis of barriers to the circular economy at the level of individual countries and regions is needed.

Epilogue

2018 ◽  
Author(s):  
Robert E. Goodin ◽  
Kai Spiekermann
Keyword(s):  
Social Media ◽  
European Union ◽  
Majority Rule ◽  
The European Union ◽  
Donald Trump ◽  
Epistemic Democracy ◽  
The Core ◽  
Echo Chambers ◽  
Filter Bubbles

This chapter reflects on the election of Donald Trump and the vote of the British electorate in favour of ‘Brexit’ from the European Union. While we refrain from judging the outcomes of these votes, we do discuss concerns pertaining to the lack of truthfulness in both campaigns. After rehearsing the lies on which the Trump and Brexit campaigns were based, we consider different explanations as to why these campaigns were nevertheless successful, and where this leaves the argument for epistemic democracy. Particularly worrisome are tendencies towards ‘epistemic insouciance’, ‘epistemic malevolence’, and ‘epistemic agnosticism’. We also consider the problematic influence of social media in terms of echo chambers and filter bubbles. The core argument in favour of epistemic democracy is that the pooling of votes by majority rule has epistemically beneficial properties, assuming certain conditions. If these assumptions are not met, or are systematically corrupted, then epistemic democracy is under threat.

scholarly journals Economic burden of work injuries and diseases: a framework and application in five European Union countries

2021 ◽  
Vol 21 (1) ◽  
Author(s):  
Emile Tompa ◽  
Amirabbas Mofidi ◽  
Swenneke van den Heuvel ◽  
Thijmen van Bree ◽  
Frithjof Michaelsen ◽  
...  
Keyword(s):  
European Union ◽  
The Netherlands ◽  
Economic Burden ◽  
National Level ◽  
Health And Safety ◽  
Indirect Costs ◽  
The European Union ◽  
Work Injuries ◽  
European Union Countries ◽  
Related Quality

Abstract Background Estimates of the economic burden of work injuries and diseases can help policymakers prioritize occupational health and safety policies and interventions in order to best allocate scarce resources. Several attempts have been made to estimate these economic burdens at the national level, but most have not included a comprehensive list of cost components, and none have attempted to implement a standard approach across several countries. The aim of our study is to develop a framework for estimating the economic burden of work injuries and diseases and implement it for selected European Union countries. Methods We develop an incidence cost framework using a bottom-up approach to estimate the societal burden of work injuries and diseases and implement it for five European Union countries. Three broad categories of costs are considered—direct healthcare, indirect productivity and intangible health-related quality of life costs. We begin with data on newly diagnosed work injuries and diseases from calendar year 2015. We consider lifetime costs for cases across all categories and incurred by all stakeholders. Sensitivity analysis is undertaken for key parameters. Results Indirect costs are the largest part of the economic burden, then direct costs and intangible costs. As a percentage of GDP, the highest overall costs are for Poland (10.4%), then Italy (6.7%), The Netherlands (3.6%), Germany (3.3%) and Finland (2.7%). The Netherlands has the highest per case costs (€75,342), then Italy (€58,411), Germany (€44,919), Finland (€43,069) and Poland (€38,918). Costs per working-age population are highest for Italy (€4956), then The Netherlands (€2930), Poland (€2793), Germany (€2527) and Finland (€2331). Conclusions Our framework serves as a template for estimating the economic burden of work injuries and diseases across countries in the European Union and elsewhere. Results can assist policymakers with identifying health and safety priority areas based on the magnitude of components, particularly when stratified by key characteristics such as industry, injury/disease, age and sex. Case costing can serve as an input into the economic evaluation of prevention initiatives. Comparisons across countries provide insights into the relevant performance of health and safety systems.

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